10 Years Later, the 3-Month Treasury Finally Yields 2% Again

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via confoundedinterest:

(Bloomberg) — Short-end U.S. rates have been buoyed by a tightening of Federal Reserve policy and an increase in issuance, and the U.S. Treasury on Monday sold $51 billion of three-month bills at 2 percent, the highest rate for an auction of the tenor since June 2008. Three-month bills in the secondary market already cracked 2 percent earlier this month, but this is the first government auction to be sold at that rate in a decade and bidding from both direct and indirect buyers fell. The soft demand suggests investors preferred the six-month Treasury bill instead.

Yes, the US Treasury 3M bill rate finally is back 2.00%.

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It has taken over 10 years to get back to June 2008 rates.


But the entire US Treasury Actives curve is not back to where it once belonged.


Get back, Jo Jo (Powell).

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